Spending on Medicare, the U.S. health-care program for the elderly, will reach a legal limit by 2014, requiring the next president to propose changes.
The report issued today is the second consecutive year that Medicare's trustees have pulled the so-called trigger, a law mandating that the president introduce legislation the following year to protect the program's financing.
What? Whoever drafted this report is a quack. Everyone knows Medicare is in great shape. In fact, it's in such great shape we're going to expand it to the entire country. Our honorable senators would never put together a program that resembles a Ponzi scheme.